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Puerto Rican CU now associate member of NY league

LATHAM, N.Y. (4/25/08)--A meeting among Puerto Rican cooperativas, the New York State Credit Union League and the World Council of Credit Unions (WOCCU) turned into a historic event when Luis Lopez, president of Abraham Rosa Cooperativa, announced that his credit union will become the first from Puerto Rico to become an associate member of the league.

New York State Credit Union League Senior Vice President Michael Lanotte helps representatives of 23 credit unions from Puerto Rico, St. Thomas and St. Croix navigate through the league’s website at a recent gathering in Puerto Rico. (Photo provided by the New York State Credit Union League)

An initiative for advancing the partnership, which was first announced August 2005, was on the table for all who participated in a recent gathering in Puerto Rico. “I look forward to this next step in our partnership with the New York league,” said Lopez. “I am confident that the league and our credit union will both benefit from this enhanced relationship.” It is the first partnership to experience league membership as an outcome. The new approach to associate membership was the result of the partnership program that brought the league and the credit unions of Puerto Rico together. “It is very rewarding seeing Puerto Rico and New York credit union systems cooperating,” said Victor Miguel Corro, WOCCU international partnerships manager. “In the end, it’s the members who we worry about and they are the focus of this partnership." “We couldn’t be happier with the growth and expansion that has occurred as a result of this unique partnership,” said Michael Lanotte, league senior vice president. “It becomes more evident as the partnership develops that both partners are learning from one another. “The league provides a level of specific credit union operational and technical support, while the credit unions, based on the manner in which they approach serving their members and working with others, provide a blueprint on how the credit union philosophy can be lived on a daily basis,” he continued. The meeting also marked another milestone--the expansion of the partnership to include credit unions in the U.S. Virgin Islands. Thirty-two individuals representing 23 credit unions from Puerto Rico, St. Thomas and St. Croix participated in the meeting. The league, represented by Lanotte, provided education sessions on current compliance topics, such as ID theft, business continuity planning and third-party vendor due diligence. Marc Inger, chief operating officer of UsNet, presented an introduction to shared branching. Dirck Van Deusen, senior vice president of Corporate Relations for Members United Corporate FCU, Warrenville, Ill., provided an overview of the roles of corporate credit unions. WOCCU currently has 28 international partnerships between credit union movements in developing countries and leagues in the U.S. and Canada.